Dems asks DOJ To Scrutinize Intuit’s $7.1B Credit Karma Buy

Democratic lawmaker David Cicilline is asking the US Department of Justice (DOJ) to take a closer look at TurboTax maker Intuit’s planned US$7.1 billion acquisition of personal finance website Credit Karma, citing antitrust concerns.

“Without Credit Karma’s free tax filing product, consumers will have far fewer choices and many of them will have to pay $60 and up for a product that is available for free today,” Wyden, the top Democrat on the Senate Finance Committee, wrote in a letter to DOJ’s Makan Delrahim.

Wyden worries that in addition to the antitrust raised by the deal, Intuit’s US$7.1 billion Credit Karma buy would raise serious questions about the impact on American’s privacy. Credit Karma provides a free service to more than 100 million American users and as a result the company holds a huge amount of sensitive user data. 

Full Content: Baltic Times

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